Orasure Tech Stock Price, News & Analysis

OraSure Technologies (NASDAQ: OSUR) reported Q3 2020 revenues of $48.0 million, a 33% increase year-over-year, bolstered by $18.4 million in sales of oral fluid COVID-19 collection devices. The Molecular Solutions business unit achieved its highest revenue at $31.2 million, up 79% from last year. Despite growth, net income fell to $1.0 million or $0.01 per share, down from $13.1 million or $0.21 per share in Q3 2019. Fourth-quarter guidance anticipates net revenues between $55 million to $60 million.

OraSure Technologies announces that its subsidiary DNA Genotek received a second FDA Emergency Use Authorization (EUA) for the ORAcollect®·RNA saliva collection device. This device is authorized for at-home or healthcare setting use to collect saliva specimens suspected of containing SARS-CoV-2 RNA. The new EUA complements a previous authorization for the OMNIgene®·ORAL device. The company emphasizes the importance of non-invasive testing during the COVID-19 pandemic, stating that the collection method minimizes contact and PPE requirements.

OraSure Technologies, Inc. (NASDAQ: OSUR) will hold an earnings conference call on November 4, 2020, at 5:00 PM ET to discuss its third quarter financial results. A press release detailing the financial results will be issued at 4:01 PM ET on the same day. Participants can join the call by dialing 844-831-3030 (Domestic) or 315-625-6887 (International) with Conference ID # 9459222. The call will also be available via webcast on the company's Investor Relations page. A replay will be accessible for 14 days post-call.

OraSure Technologies (NASDAQ: OSUR) announced that its subsidiary DNA Genotek received Emergency Use Authorization (EUA) from the FDA for its OMNIgene®·ORAL saliva collection device for COVID-19 testing. This marks a significant milestone as it allows unsupervised at-home sample collection. The device has already been CE marked for use in the EU. The company is scaling up manufacturing to meet growing demand and has reported success in various testing programs across educational institutions and pharmacies. This development is crucial given the anticipated 2.4 billion annual tests needed in the U.S.

OraSure Technologies (NASDAQ: OSUR) announced that its ORAcollect®·RNA (OR-100) saliva collection device is included in the FDA Emergency Use Authorization for Quadrant Biosciences' COVID-19 test. This marks the sixth EUA for a collection device from OraSure’s DNA Genotek subsidiary, emphasizing its role in non-invasive COVID-19 testing. The Clarifi COVID-19 Test Kit, developed in collaboration with SUNY Upstate Medical University, will enable high-complexity labs to detect SARS-CoV-2. The device is crucial for increasing COVID-19 testing accessibility.

OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will speak at two upcoming investor conferences. The first event is the Citi Spotlight on Diagnostics in a COVID-19 Environment on September 1, 2020, where Dr. Tang will participate in a panel at 12:05 PM EDT. The second is Baird’s 2020 Global Healthcare Conference on September 10, 2020, at 12:50 PM EDT. Investors can access the presentations via OraSure's website, with a replay available for 14 days.

OraSure Technologies, Inc. (NASDAQ: OSUR) reported a net revenue of $29.3 million for Q2 2020, down 25% from Q2 2019, with a net loss of $10.5 million, or $0.16 per share. The decline is attributed to lower sales across various products due to the COVID-19 pandemic, despite $8.5 million generated from oral fluid collection devices for COVID-19 testing. The company ended June 2020 with $265.8 million in cash, bolstered by an equity offering. Future product launches include a COVID-19 rapid antigen self-test and an ELISA-based antibody test expected in Q4 2020.

OraSure Technologies, Inc. (NASDAQ: OSUR) announced that its OMNIgene®·ORAL (OM-505) saliva collection device has received FDA Emergency Use Authorization (EUA) for COVID-19 testing, now included in Clinical Reference Laboratory's (CRL) CRL Rapid Response™ test. This marks the fourth EUA involving a device from OraSure's subsidiary, DNA Genotek. The OMNIgene·ORAL device allows for easier, self-collected saliva samples, improving safety and comfort compared to standard nasal swabs. The collaboration aims to enhance COVID-19 testing accessibility as businesses reopen.

OraSure Technologies (NASDAQ: OSUR) is set to host its 2020 second quarter earnings conference call on August 5, 2020, at 5:00 p.m. ET. The press release detailing the financial results will be distributed at 4:01 p.m. ET.

Participants can join the call by dialing 844-831-3030 (Domestic) or 315-625-6887 (International), using Conference ID #3276612. A live webcast will be available on the company's Investor Relations page.